Euromoney expects drop in revenues to continue

Financial publishing and events group Euromoney said yesterday that revenues for the quarter to end-June fell 22 per cent at constant currencies, and predicted further declines in subscription revenues for the rest of the year.<br /><br />The company, majority-owned by Daily Mail &amp; General Trust (DMGT) &ndash; which is due to report today &ndash; highlighted customer budget cuts and tight cost controls, and warned that things would get worse before they got better.<br /><br />Subscription revenues from Euromoney&rsquo;s print and electronic publications, which include Euromoney Magazine, were flat at constant currencies. Advertising, sponsorship, delegates and other revenues all fell in the company&rsquo;s third quarter.<br /><br />Total revenues were &pound;84.2m, a headline decrease of 11 per cent as the sterling-dollar rate flattered the reported numbers.